Melbourne, Florida, Oct. 16, 2015 (GLOBE NEWSWIRE) -- Oakridge Global Energy Solutions, Inc.
OGES
Oakridge Global Energy Solutions:
A New Era In Battery Manufacturing
Oakridge Announces Plans to Produce Commercial Thin Film Solid State Lithium Batteries
FOR IMMEDIATE RELEASE
October 14, 2015 Melbourne, Florida – Oakridge Global Energy Solutions, Inc. (OGES) is pleased to announce that, as part of its recently announced expansion, it plans to fully utilize the many patents developed and owned by the company in Thin Film Solid State Batteries. These batteries have game-changing applications in electronics, robotics, industry, medical devices and the military. In 2002, the Company acquired Oak Ridge Micro-Energy Inc (a Nevada corporation) to further the development and commercialization of rechargeable thin film solid state lithium battery technology that was based upon the thin film solid state lithium ion technology developed by Dr. John B. Bates, Ph.D., while he was employed at the United States Department of Energy’s Oak Ridge National Laboratory (“ORNL”) under license from ORNL.
“The timing is now right and the market is now ready for Thin Film Solid State Batteries,” said OGES Executive Chairman and CEO, Steve Barber. “These amazing next generation batteries last for years without the need for recharging while providing steady power to smart phones, computer tablets, smart watches, medical electronics, and even animatronics and flexible applications such as the incorporation of batteries into the fabrics of clothing and tires. While the market wasn’t quite ready for the technology when Dr Bates invented it in the mid-1990’s, now is the perfect time for Oakridge to commercialize our industry-changing technology. We will complete the last phase of pre-production prototyping in early 2016 and be ready for full commercial product and manufacturing of these hi-tech batteries in late 2016 to early 2017. This is yet another very exciting product line that nicely complements our existing products that we have already introduced, and will be a real game-changer for the global battery industry and truly represents the next generation of batteries. With this new product initiative, in commercialising more great technology invented right here in the USA, we are continuing with our mission statement of on-shoring jobs and manufacturing back to the USA by providing the market with another Made In the USA product instead of having to rely on imported products.”
“The process for manufacturing Thin Film Solid State batteries is quite different from the current process of producing small format or large format lithium cells, and is more akin to the manufacturing techniques used in the semiconductor industry,” says Steve Barber. “We will utilise the considerable depth of skilled employees found in and around the Space Coast area to set this manufacturing operation up in a separate facility to accommodate the special processes required in the manufacture of these new game-changing batteries. We anticipate having that new facility location selected by the end of this year in the Space Coast area where we are currently located and will immediately begin sourcing equipment and hiring employees.”
About Oakridge Global Energy Solutions, Inc.
Oakridge Global Energy Solutions Inc., is a publicly traded company, trading symbol: OGES on the OTCQB with a market capitalization of over USD $ 400,000,000, whose primary business is the development, manufacturing and marketing of energy storage products. Additional information can be accessed on the company's website www.oakg.net.
Forward-Looking Statements Disclaimer: This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
Contact:
Oakridge Global Energy Solutions, Inc.
www.oakg.net
Info@oakg.net
3520 Dixie Highway, NE
Palm Bay, Florida 32905 USA
Phone (321) 610-7959
Investor Inquiries:
Benchmark Advisory Partners LLC
Timothy Connor
Toll Free: (866) 703-4778
admin@bmarkadvisory.com
And:
Dutch DeWaard
Business Development
DreamTeamNetwork (DTN)
Austin, TX
www.DreamTeamNetwork.com
512.758.8877 Office
480.734.5834 Mobile
Dutch@DTN.fm
http://www.globenewswire.com/NewsRoom/AttachmentNg/66ccfecb-d5c2-4791-a7c5-d75f447b4ded
